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Despite blockchain’s superior technical capacity for data privacy and security, lack of control over personal data is a major issue for the many companies subject to the EU’s new digital data privacy law—the General Data Protection Regulation (GDPR)—which comes into effect May 2018. In May 2015, the European Commission published its Digital Single Market strategy, designed to produce a seamless commercial market across national borders to improve online access to goods and services, set a level playing field for competing … Read More

An overview of various legislative approaches to regulating – and recognizing – blockchain in the US While blockchain technology is increasingly utilized in public sectors around the world, several US states have been especially active when it comes to legislating the various corollaries of blockchain technology. Some bills have passed, while others are still being proposed, revealing the flow on effect that simultaneous debates can have in a given country. As one state passes a bill, another sees a use … Read More

Blockchain, the technology behind smart contracts, and AI are quickly converging. Futurists claim this will produce an entirely new paradigm that forever changes how companies write contracts and conduct business. What changes, though, can we expect? The current state of smart contracts Smart contracts remove trade or service agreements from the realm of static documents that require constant human management. They transform them into automation tools that drive complex transactions between multiple parties. Residing on the blockchain, they actively monitor … Read More

As internet legal service providers continue to eat away work from trained legal professionals, many have sounded warning cries on an impending “death of the traditional legal profession.” While the erosion of market share is real, the doomsday alarms are exaggerated. The fact is that the legal profession is experiencing massive change—not death throes. New technologies that enabled internet legal service providers to carve a niche for themselves also offer trained legal professionals tools with which they can strengthen their … Read More